Dow Jones Industrial Average Plunges 200 Points On Global Growth Fears

Dow Jones Industrial Average Plunges 200 Points On Global Growth Fears

Global markets shaken as faith in currencies fall

 

by Jessica Menton | International Business Times | August 20, 2015

U.S. stocks traded sharply lower Thursday morning, with the Dow Jones Industrial Average plunging 200 points after oil prices tumbled to near $40 a barrel. The S&P 500 turned negative for the year after all 10 sectors traded lower, led by a 1.5 percent decline in financial stocks.
The losses in financial stocks were fueled by fears that the U.S. Federal Reserve may wait until after September to raise interest rates, a delay due to global growth concerns. Policy makers need more confidence that inflation is moving toward their goal before the Fed will lift rates, minutes released a day earlier from the central bank’s July meeting showed.
The Dow Jones Industrial Average (INDEXDJX:.DJI) tumbled 202.37 points, or 1.17 percent, to 17,146.36. The S&P 500 index (INDEXSP:.INX)  lost 22.07 points, or 1.06 percent, to 2,057.30. And the Nasdaq composite (INDEXNASDAQ:.IXIC) dropped 72.56 points, or 1.44 percent, to 4,945.77.
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